Jiangyin Xinhua Electronic Enterprise agreed to acquire 74.78% stake in Jiangyin Ace Electronic Equipments Co., Ltd. from JCET Group Co., Ltd. (SHSE:600584) for CNY 38.5 million on October 27, 2021. The deal is subject to approval from JCET Group Co., Ltd. board. As of October 27, 2021 JCET Group Co., Ltd. board approved the deal. As of June 30, 2021 Jiangyin Ace Electronic Equipments Co., Ltd. recorded the total assets of CNY 80.1 million.